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    501 Market St Salem, IN 47167

    Sponsored
    For Sale
    $1,800,000

    22 Acres, 71,102 SF, High Potential

    Property size:
    71,102 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    338
    This expansive Salem, Indiana industrial property, located just blocks from the town square, presents a unique investment opportunity. Boasting 22 acres of land, the property encompasses a substantial 71,102 square feet of versatile space, currently leased to multiple businesses. The existing structure includes over 175,000 square feet of warehouse space and 5,500 square feet of finished office space, with additional office space within the warehouse areas. Access is convenient via three city streets. The property is equipped with robust infrastructure, including 440 3-phase electric service to the warehouses and a dedicated fire suppression loop with multiple hydrants strategically placed throughout the site. Beyond its current use, this property offers significant redevelopment potential. The expansive acreage and prime location lend themselves to a variety of uses, including land development, creekside apartment or business development, an event venue, or a flea market. The combination of existing income-generating tenants and the potential for future development makes this a compelling investment opportunity in a thriving Indiana community. The property's size and location offer significant flexibility for a wide range of commercial ventures.

    Property Features for 501 Market St

    General Information

    Property type
    Industrial properties
    Square Feet
    71,102 SF
    Lot Size
    958,320 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    Law Office of Brock ... Attorney Pig Miracle Caterer Cornerstone Family Farms Farm Etc Environmental Teen ... Environmental Consultant Dawson Real Estate Real Estate Agency

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Washington
    State
    Indiana
    Longitude
    -86.09513
    Latitude
    38.60555

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    FAQs

    What type of property is this?
    Industrial property - 22 Acres, 71,102 SF, High Potential
    Where is this industrial property located?
    The property is located at 501 Market St Salem, IN.
    What is the asking price?
    The asking price for this property is $1,800,000.
    (812) 283-4778
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    501 Market St Salem, IN 47167
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    Salem, IN 47167
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    501 Market St Salem, IN 47167
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